The Price is Right

2021 Genesis GV80 priced starting at $48,900 with two engine options, 10 grades

The Genesis GV80 is the automaker's first SUV.

Photo courtesy of Genesis Motor

The 2021 Genesis GV80 goes on sale this summer with a competitive price point, engine lineup, and list of features. It's the first SUV that Korean luxury automaker Genesis is selling. Two more SUVs are slated to come down the pipeline soon.

"To our valued customers, we can't wait to show you how much design, quality and technology you'll find in our all-new GV80 SUV. To our near-future customers who've already initiated over 6,000 reservations for the GV80, we can hardly wait to have you driving your new Genesis," said Mark Del Rosso, President and CEO, Genesis Motor North America. He continued, "To our competitors, consider the GV80's pricing a shot across the bow. To our business partners, we can't wait to grow together with you, to new heights, over the next several years."

The GV80 will be offered with either a turbocharged 2.5-liter four-cylinder or twin-turbocharged 3.5-liter V6 engine. Models equipped with the 2.5-liter engine will be available in rear- or all-wheel drive. GV80s with the larger engine will only be available with all-wheel drive.

The GV80 with the 2.5T engine starts at $48,900. The larger engine and all-wheel drive will increase the cost of the model.

Genesis will offer the smaller engine in three trim levels (all available in AWD variants): Standard, Advanced, and Prestige. The larger 3.5-liter power plant will be available in four trim levels: Standard, Advanced, Advanced+, and Prestige.

The company is touting the standard class-leading active and passive safety technology, refined luxury interior appointments, and driver-focused features.

The GV80 is the model that Chrissy Teigen and John Legend were promoting in their Super Bowl commercial. That ad is the first part of a larger partnership with the couple.

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New electric SUV

The Genesis GV60 is on sale now

The GV60 is on sale in the U.S. now.

Genesis

Today, Genesis announced that its newest vehicle, the electric GV60, is on sale in the United States. The vehicle brings a load of new tech and innovations, and features the brand's distinctive, attractive styling.

The GV60 will be offered in two configurations in the United States. The GV60 Advanced AWD starts at $58,890 and features a facial unlocking system, a 12.3-inch digital gauge cluster and touchscreen, and a Bang & Olufsen audio system. The GV60 Performance AWD starts at $67,890 and brings more power, leather upholstery, a massaging driver's seat, and more.

2023 Genesis GV60Buyers get three years of free charging. Genesis

The Advanced model comes with a 74-kW front and 160-kW rear electric motor for a total of 314 horsepower. A 77.4-kWh battery provides juice for the operation, and returns a range of 248 miles. The Performance AWD model features a 160-kW front and 160-kW rear motor for a combined 429 horsepower, with up to 483 ponies available with a temporary boost mode.

Genesis partnered with Electrify America to provide GV60 owners with three years of free 30-minute charging sessions. Owners can charge anywhere in the United States, and can locate charging stations using their vehicle's navigation system. The GV60 is also the first Genesis to feature Connected Care, which includes several connected services such as enhanced roadside assistance, an SOS emergency notification feature, vehicle health reports, and more.

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The majority of new car buyers paid a markup in January 2022.

VW

It's no secret that new car prices are climbing every year, as new technology and features make their way into even the most basic models. The issue is compounded by massive supply chain issues that have caused vehicle shortages for nearly every major automaker. Some dealers are taking advantage of record low inventory levels by marking up prices, and unfortunately, the problem isn't limited to a handful of bad apples. In analyzing recent sale price data, automotive publication Edmunds found that buyers paid a markup in a whopping 82.2 percent of all new vehicle purchases in January 2022, compared to just 2.8 percent a year before. Overall, the average transaction price rose to $728 above MSRP for new car purchases.


Tesla factoryTesla is looking to expand production in the U.S. beyond the confines of its Fremont factory. Photo courtesy of Tesla Motors

Cadillac buyers saw the largest markups, to the tune of $4,048 on average in January. Land Rover and Kia weren't much better, with average markups of $2,565 and $2,289, respectively. On the other end of the spectrum, Alfa Romeo buyers got discounts that averaged $3,421, while people who bought Volvo or Lincoln vehicles got smaller discounts of $869 and $510, respectively.

Some automakers have taken a stand against dealer markups and the general lack of transparency seen in pricing across the board. Ford and General Motors have been vocal in recent months, threatening to withhold inventory from dealers found to be slapping markups on new vehicles. As Edmunds notes, both automakers have important vehicle launches on the horizon that neither can afford to flub, and inconsistent pricing or markups is a good way to alienate new customers out of the gate.


Cadillac EscaladeCadillac buyers paid the largest markups of any brand. Photo courtesy of Cadillac

If you're thinking of shopping for a new car, the best way to avoid paying a markup is to wait. The pandemic and ongoing supply chain issues have thrown kinks into every automaker's operations that will take time to iron out. That said, it's clear that some brands are committed to having no funny business when it comes to dealerships' pricing and communication. It's possible to get a vehicle at MSRP, or even below in some cases, so if you're in a position that requires you to buy a new car, shop around to get the best deal.

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